Update: Mubarak has gone! Egyptian state TV reported that Mubarak has left. This was a short message. The crowd at Tahrir is cheering. President Hosni Mubarak has decided to waive the office of the republic – says Vice President Omar Suleiman – Army in charge of Egypt There are growing talks in Egypt that president Hosni Mubarak … “Mubarak Steps Down!”
Author: admin_mm
Third Day of Losses for Rand Due Egyptian Crisis
The South African rand dropped to the lowest level in more than five months on the worries that Egyptian crisis will intensify and as the global inflationary pressure increases. The concerns that the unrest in Egypt will strengthen emerged after Egyptian President Hosni Mubarak refused to accept the demand of the protester to resign the presidency. The threat of the increasing tensions in North Africa caused the market sentiment to shift to risk aversion and hurt the riskier assets. USD/ZAR was at 7.3130 … “Third Day of Losses for Rand Due Egyptian Crisis”
Taiwan Dollar Tumbles with Stock Index
The Taiwan dollar slumped today as the nation’s stock index dropped to the lowest level in five months, slowing the rapid appreciation of the currency. The Taiex stock index dropped as much as 2.6 percent, the biggest loss since August 25. The Taiwan currency declined 0.1 percent over the week, but has gained 3.9 percent this year so far. USD/TWD rose from the opening rate of 28.9520 to 29.2250, the biggest gain since December … “Taiwan Dollar Tumbles with Stock Index”
CitiFX Announces More Competitive Spreads
CitiFX leverages its strong institutional background and now offers better spreads. The new spreads are divided into two groups, with the tightest spreads, such as 1.2 pips on EUR/USD, available for accounts larger than 50,000. This broker is aiming for the bigger forex traders, not necessarily full time traders, but the ones that don’t come … “CitiFX Announces More Competitive Spreads”
Loonie Moves in Tandem with Greenback
The Canadian dollar fell against its US counterpart, but advanced versus most other actively traded currencies, as the economic recovery in North America increased the attractiveness of the currency for the investors. The report of Canada Mortgage and Housing Corporation this week said that the seasonally adjusted annual rate of housing starts was 170,400 units in January. This is up from 169,000 units in December. Today’s report of Statistics Canada showed that … “Loonie Moves in Tandem with Greenback”
US Dollar Gains as Unemployment Claims Decline
The US dollar strengthened against most of its major counterpart after the report showed today that the number of unemployment claims in the US dropped significantly last week, despite Federal Reserve Chairman Ben Bernanke’ prediction of higher unemployment. Bernanke said in his testimony yesterday: Notable declines in the unemployment rate in December and January, together with improvement in indicators of job openings and firms’ hiring plans, do provide some grounds for optimism … “US Dollar Gains as Unemployment Claims Decline”
Australian Dollar Drops with Decrease of Full-Time Employment
The Australian dollar declined today after the report showed that full-time employment of the Australians decreased in January, causing the speculation that Australia’s economy doesn’t grow fast enough to warrant an increase of the interest rates. Australian Bureau of Statistics reported today that the full-time employment decreased 8,000 to 8,022,400 in January. The report wasn’t completely negative, though, as the increase of the part-time employment caused the overall employment to increase by 24,000. AUD/USD declined today from … “Australian Dollar Drops with Decrease of Full-Time Employment”
GBP Falls vs. USD, Rises vs. EUR As BOE Keeps Policy Unchanged
The Great Britain pound strengthened against the euro and fell versus the US dollar after the Bank of England decided today to leave the interest rates and its program of asset purchases unchanged today. The Bank of Englandâs Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 percent. The Committee also voted to maintain the stock of asset purchases financed by the issuance of central bank reserves at £200 billion. … “GBP Falls vs. USD, Rises vs. EUR As BOE Keeps Policy Unchanged”
Portugal Bailout Closer as ECB Stops Buying Bonds
The yields on Portugal’s’ bonds are breaking records, above 7.5%. This can be “blamed” on the European Central Bank, that didn’t buy any bonds in the pat two weeks. Without the support of Jean-Claude Trichet, money becomes very expensive for Portugal. The high lending levels are unsustainable in the long run, and may force an … “Portugal Bailout Closer as ECB Stops Buying Bonds”
IBFX Has 99.9% Execution Rate
Interbank FX had an outstanding execution rate of 99.9% during the month of January 2011. Michael Greenberg reports about these figures, and emphasizes that this refers to all deals sent by clients. While the overall rejection rate is 0.1%, trades of bigger sizes, between 5 to 50 lots, had a rejection rate of 0.3%. The … “IBFX Has 99.9% Execution Rate”